Department Store plans 500 billion Yen redevelopment
Isetan Mitsukoshi Holdings is planning to invest 500 billion Yen (approx. US$3.2 billion) in a large-scale redevelopment project in the neighborhood around its landmark Isetan Shinjuku Department Store. This redevelopment plan is expected to boost annual department store revenues by 100 billion Yen.Read more
Tsukiji Fish Market redevelopment proposal announced last week
The proposed redevelopment plan for the old Tsukiji Fish Market site in Tokyo was announced last week by the Tokyo Metropolitan Government. Mitsui Fudosan has been selected to lead a group of 11 project participants.Read more
Historic Gakushi Kaikan to be partially demolished
Demolition of half of the historic Gakushi Kaikan (学士会館) will start in 2025. The property was built in the 1920s and 1930s as club facilities for graduates of several national universities, and registered as a National Tangible Cultural Property in 2003.Read more
Akihabara high-rise project moving ahead despite opposition
A 170-meter tall mixed-use redevelopment may soon be going ahead for a multi-block site in Akihabara. To move forward with project planning, the required two-thirds approval was obtained from landowners last month.Read more
170m tall tower for north side of Iidabashi Station
Details of a 170-meter tall mixed-use project near Iidabashi Station have been announced. Construction of the Koraku 2 Chome South District Redevelopment is scheduled to start in 2026, with completion by 2030 ~ 2031.Read more
Modernist theatre demolition delayed due to rising construction costs
Rising construction costs might have granted the National Theatre an inadvertent temporary reprieve of demolition. The 57-year old modernist building was scheduled to meet with the wrecking ball sometime after the end of October.Read more
Imperial Hotel sells 35% of land for 62 billion Yen
On September 26, Imperial Hotel announced plans to sell a 35% share of the land under its tower building in its Tokyo property to Mitsui Fudosan for 62 billion Yen (approx. US$416 million). This purchase price works out to around 15 million Yen per square meter (US$9,300/sq.ft), which is approximately 93,600 times its book value.Read more